Mylo mushroom leather project ends due to lack of investment Stella McCartney
05.07.2023 4552

Mylo mushroom leather project ends due to lack of investment

Despite a noisy start to the project to produce innovative artificial leather Mylo, which was presented as the most effective and sustainable alternative to natural leather, the American startup Bolt Threads, which produces Mylo biomaterial, is forced to stop production due to lack of funds.

Recall that the "mushroom leather" was well received in the fashion world - it was chosen for the production of accessories for her collection by eco-activist fashion designer Stella McCartney, Adidas managed to release its most popular model of adidas Stan Smith sneakers from Mylo, the material was supported by Kering and Lululemon.

However, the adventure of a sustainable material whose production is based on the use of mycelium, that is, the underground root system of fungi, has come to an end for the moment.

As Bolt Threads CEO Dan Widmayer told Vogue Business, Mylo's problem is not with the market itself, but with strong inflation pressures. He also acknowledged that at the moment the attention of investors is turned in the other direction and that “those who managed to raise funds are mainly dealing with artificial intelligence.”

Bolt Threads was founded in 2009 by Dan Wiedmayer and CTO David Breslauer. To date, investments in venture business have exceeded $300 million.

Despite the noisy start of the project for the release of innovative artificial leather Mylo, which was presented as the most effective and sustainable alternative to natural leather, the American startup ...
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